This action is for shareholders of the common stock of Psychiatric Solutions, Inc. (NASDAQ: PSYS) who acquired their shares between February 21, 2008 and February 25, 2009.
The action alleges that Psychiatric Solutions and certain of its executive officers violated federal securities laws. Specifically, the action alleges that statements made by the Company during the above mentioned time period were false and misleading because, among other things, the Company mislead investors into thinking that the ban that Illinois authorities placed on placing new patients into the Company's Riveredge psychiatric facility would be lifted when, in fact, the Company knew that the Illinois authorities would not lift the ban.
When the Company finally announced on February 25, 2009 that its income would be reduced because the ban would not be lifted in the near future, the Company's share price dropped to close 35% down on February 26, 2009 from the previous day's close on unusually heavy volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired common stock in Psychiatric Solutions, Inc. (NASDAQ: PSYS), between February 21, 2008 and February 25, 2009 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Case Summary
Join the Class Action
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I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
Terms:
correct statements.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.
